The presentation was made at an awards banquet held at the Makati Shangri-La Hotel earlier this month, and Mr Chen also received a category award as Master Entrepreneur 2010, according to Manila Bulletin.

Mr Chen was recognised for securing Bounty Fresh Food, Inc.'s position as one of the country's largest and most reputable food producers. He was selected from among the six category winners of the Entrepreneur Of The Year Philippines. As the winner of the national title, Mr Chen will represent the Philippines in the World Entrepreneur of The Year Awards in Monte Carlo, Monaco in June 2011.

Mr Chen dedicated the award to his wife, and said that he is proud to represent the Philippines in Monte Carlo. He said: "I would like to tell them (in Monte Carlo) that the Filipino is world-class, and that there is nothing we cannot achieve if we put our heart into it."

Mr Chen was named Master Entrepreneur 2010 for best exemplifying sound management practices in critical areas of the company, including finance, marketing, human resources and sales, revolutionizing the broiler chicken production industry and pioneering many of the systems now used by the country's poultry integrators.

The Entrepreneur Of The Year was founded in the United States by professional services firm Ernst & Young in 1986 to recognise the achievements of the most successful and innovative entrepreneurs worldwide. In 2001, Ernst & Young expanded the programme and launched the World Entrepreneur Of The Year awards. In the Philippines, the SGV Foundation, Inc. established the Entrepreneur Of The Year in 2003.